11Alive's Jeff Hullinger has been told by a source, it costs about $14,000 a year to buy a Georgia tag for the Lamborghini. In four years, this Italian high performance car has never been tagged.

So, Iverson needs to pay about $56,000 to the state, then $300 a month to Futo's for storage.

Atlanta Police said they are trying to get a hold of the Alpharetta resident.

According to Carlos A. Campos of the Atlanta Police Department:

"We have attempted to reach Mr. Iverson by certified mail that his car will be declared abandoned after 90 days of impound at a city contracted lot (Futo's), That we have the right to sell the vehicle at public auction." The letter has been returned to sender. Other efforts (by Atlanta Police) will be made to reach out to Mr. Iverson."

Last November, the Philadelphia Inquirer reported that Iverson is broke. The newspaper alleged Iverson has burned through more than $154 million in 15 years, and that doesn't include a lucrative show deal with Reebok.

Hullinger has been told an auction is at the discretion of the towing yard owner. And he apparently is in no hurry.